Nitin Mhatre of Webster Financial explains why the Consumer Bankers Association — whose members want a bigger piece of the student lending market — backs legislation that would make the federal government tell borrowers how much they will ultimately owe, ... Read full article
The Fed’s injects funds into the repo market for first time in more than a decade; bank trying to partner firms with cash with those with market share. ... Read full article
Fintechs that simply offer cosmetic upgrades to the cumbersome American banking system won't survive. ... Read full article
The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure. ... Read full article
During a probe that grew out of the Wells Fargo scandal, the Charlotte-based bank has acknowledged instances of "potentially unauthorized" accounts, but said that the number of examples was "vanishingly small." ... Read full article
The plan approved by the Federal Deposit Insurance Corp. Tuesday would require banks to exchange initial margin only in deals involving external swaps parties. ... Read full article
Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules. ... Read full article
It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients. ... Read full article
CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big ... Read full article
A mortgage industry executive with ties to a firm penalized in a U.S. predatory lending crackdown is being considered by the Trump administration to run Ginnie Mae, according to people familiar with the matter. ... Read full article
The popular program could go idle next month for the second time in less than a year if lawmakers are unable to approve a $99 million credit subsidy. ... Read full article
Regulators have redefined a simplified capital measure for community banks following criticism that their 2018 proposal did not go far enough. ... Read full article
Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology. ... Read full article
The association filed a comment letter urging FASB to delay CECL implementation for all banks, while asking a key accounting group to support its effort. ... Read full article
The FHFA can go beyond a recent Trump administration report to level the playing field between the private sector and Fannie Mae and Freddie Mac. ... Read full article
Regulators are letting banks choose from among four security frameworks, but some observers are urging a more prescriptive approach. ... Read full article
Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in ... Read full article
U.S. prosecutors have accused three JPMorgan traders of rigging futures trades in precious metals for nearly a decade, making millions of dollars for the bank at the expense of counterparties that included the bank’s own clients. ... Read full article
Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast. ... Read full article
Muneera Carr, Comerica's CFO since 2017, will leave in October and James Herzog, who had been the bank's treasurer, will serve as interim CFO until a successor is named. ... Read full article
